if an assessee earns rent from a sub-tenent in respect to tenanted property, let out as a residence. the said rent is -
1. exempted u/s 10
2. taxable the under the head income from house property.
3. taxable as business income, as the letting out is commercial activity.
4. taxable as income from other sources
which one is correct ans. pls
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House property
Replies (3)
Rental income in the hands of owner is charged to tax under the head “Income from house property”.
Rental income received by a tenant from sub-letting cannot be charged to tax under the head “Income from house property”. Such income is taxable under the head “Income from other sources” or profits and gains from business or profession, as the case may be.
Rental income received by a tenant from sub-letting cannot be charged to tax under the head “Income from house property”. Such income is taxable under the head “Income from other sources” or profits and gains from business or profession, as the case may be.
Ok thank u
Most welcome..............
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